The main drivers in the week ahead will come from the United States. Rarely does the Federal Reserve Open Market Committee meet in the same week as the monthly jobs report. In addition, the government will publish its first estimate of Q2 GDP and the Employment Cost Index. For extra measure, auto sales and the manufacturing ISM are also due. The capital markets appear to be at potential turning points. The US Dollar Index posted its best weekly advance since March as the euro fell to new lows for the year. The S&P 500 posted record highs on July 24, but gapped lower the next day. The Russell 3000 peaked on July 3, ... (full story)